• Bayer average gross margin for 2023 was 58.97%, a 4.9% decline from 2022.
• Bayer average gross margin for 2022 was 62.01%, a 8.14% decline from 2021.
• Bayer average gross margin for 2021 was 57.34%, a 1% increase from 2020.

Gross margin can be defined as a company's total sales revenue minus its cost of goods sold, divided by the total sales revenue, expressed as a percentage.